We are quite aware of the fact that each of us have been receiving quite a lot of communications from TRACES [ the TDS Processing Cell ] on Justification reports, Intimations, Demands, etc. Many of us have also been receiving Hard-Copy Letters to this effect from TRACES.
One may sometimes wonder why such a huge amount of flow of Information ! It does make us a lot uncomfortable & we would want it to be sorted out as soon as possible.
One such email TRACES sent out on 21st of February talks about imposition of Penal Interest u/s 220(2) if actions are not taken by the Deductors ( Employers / Companies / We ).
So, the next question is what action are we supposed to take ?
• Just Pay the demand ?
• Do a correctional filing ?
• or do both ?
• Under what section ?
• Is it genuine ?
• What are the consequences of it ?
• What is the process ?
• In large Organizations such as yours, how would you be sure of being fully compliant to these requirements ?
Being The Compliance Experts, we believe in sharing the knowledge & expertise we have accumulated over a period of time.
The Conference Call cum Webinar
On the 28th of February, we will tell you about various ways to solve them. We do over 200 Correction Filings every day & hence are able to arrive at ways, not only to sort them but also to aviod re-occurance.
More details about the Conference Call is here :
Who are we ? 64,000 Employees spread across 121 Corporate benefit from our Expertise in Payroll, Taxation or Compliance.
They call us the Specialists